European CDS Widen On CIT Woes

16 Jul 2009

Credit default swaps climbed for the first time in a week as concerns about U.S. lender CIT Group trumped JPMorgan Chase’s stellar earnings report and despite stocks rising in Europe for the fourth day in a row.

Credit default swaps climbed for the first time in a week as concerns about U.S. lender CIT Group trumped JPMorgan Chase’s stellar earnings report and despite stocks rising in Europe for the fourth day in a row. JPMorgan reported that the Markit iTraxx Crossover Index of high-risk companies ...

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